Secondary Buyout • Construction

ONCAP Management Partners Acquires Tecta America

On August 12, 2016, private equity firm ONCAP Management Partners acquired construction company Tecta America from Oaktree Capital Management for 280M USD

Acquisition Context
  • This is ONCAP Management Partners’ 1st transaction in the Construction sector.
  • This is ONCAP Management Partners’ largest (disclosed) transaction.
  • This is ONCAP Management Partners’ 9th transaction in the United States.
  • This is ONCAP Management Partners’ 1st transaction in Illinois.
Investment Fate
  • Tecta America was sold to a consortium of financial buyers in 2018.

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M&A Deal Summary

Date August 12, 2016
Target Tecta America
Sector Construction
Buyer(s) ONCAP Management Partners
Sellers(s) Oaktree Capital Management
Deal Type Secondary Buyout
Deal Value 280M USD

Target Company

Tecta America

Rosemont, Illinois, United States
Tecta America is a provider of commercial roofing services offering installation, replacement, and repair services. It services both local and national accounts across a spectrum of industries and end-markets including industrial, retail / office, non-government institutional, government, multi-family and other. Tecta America was founded in 2000 and is based in Rosemont, Illinois.
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Buyer Overview 1

Buyer

ONCAP Management Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ONCAP is the mid-market private equity business of Onex Corporation. ONCAP looks to invest in small and mid-sized North American businesses where it can commit $20 to $200 million of equity capital. ONCAP considers investment opportunities in a wide range of industry sectors. Situations of interest include, complete or partial sales of a closely held private companies, divestitures, companies seeking equity capital to pursue key strategic initiatives, and take privates. ONCAP was established in 1999 and is based in Toronto.


Deal Context for Buyer #
Overall 21 of 35
Sector: Construction 1 of 1
Type: Secondary Buyout 6 of 11
State: Illinois 1 of 2
Country: United States 9 of 20
Year: 2016 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 Chatters Canada

Red Deer County, Alberta, Canada

Chatters Canada is a retailer of professional hair care products and one of the largest hair salon operators. Chatters Canada was founded in 1990 and is based in Red Deer County, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-06 CiCi s Pizza

Coppel, Texas, United States

CiCi's Pizza is engaged in franchising and operating sit-down pizza restaurants with more than 650 locations throughout the United States. CiCi's Pizza is based in Coppel, Texas.

Sell -

Seller Profile 1

SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


Deal Context for Seller #
Overall 49 of 90
Sector: Construction 2 of 4
Type: Secondary Buyout 11 of 28
State: Illinois 1 of 3
Country: United States 37 of 59
Year: 2016 5 of 5
Size (of disclosed) 10 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-15 AdvancePierre Foods

Cincinnati, Ohio, United States

AdvancePierre Foods, Inc. is a manufacturer and marketer of value-added proteins and sandwich products to a wide variety of distribution outlets including food service, retail and convenience store providers. AdvancePierre Foods was founded in 1946 and is based in Cincinnati, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-31 STG Logistics

Dublin, Ohio, United States

STG Logistics is a provider of facilities-based containerized logistics services including container deconsolidation, reconsolidation, transloading, warehousing, and outsourced transportation solutions including final mile delivery. STG Logistics was founded in 1985 and is based in Dublin, Ohio.

Buy -